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Siam Commercial Bank and its subsidiaries had operating income in the second quarter of 2019 of 36,041 million baht, an increase of 4.9% from the same period last year. This is mainly a result of net interest income that continues to expand. Operating profits improved As a result, in this quarter the bank had a net profit. (Consolidated financial statements before audit) amounted to 10,976 million baht, an increase of 19.9% from the previous quarter and a decrease of 1.2% from the same period last year. For the first half of 2019, the Bank had a net profit of 20,132 million baht. In the second quarter of 2019, net interest income amounted to 25,536 million baht, an increase of 7.1% from the same period last year. The continued growth in net interest income is a result of the Bank's adjustments to its loan portfolio by increasing the proportion of high-yield loans. While overall loans expanded approximately 3% from the previous year, non-interest income amounted to 10,505 million baht, an increase of 0.1% from the same period last year.
Although SCB Life's life insurance business slowed down, however, compared Industry Email List to the previous quarter, non-interest income increased 6.6% due to the recovery of main income from net fees (recurring fees), an increase in fee income from trading transactions and Foreign exchange and investment gains in this quarter saw the growth in expenses slow down from the previous quarter. There will be no impact of one-time expenses on the provision for employee benefits from the new labor law. In addition, the implementation of the project Transformation It is in its final stages and as a result, high investment costs in the project are coming to an end as well. As a result, the expense-to-income ratio has clearly improved from 51.6% in the first quarter of 2019 to 46.2% in the second quarter of 2019. At the end of June 2019, the non-performing loan (NPL) r resulting in the ratio of allowance for doubtful debts to non-performing loans at a level of 153. % while the bank's legal capital remains at a strong level at 17.1%, Mr. Athit Nanthawithaya, Chief Executive Officer and Chairman of the Executive Committee Siam Commercial Bank said, “Although the bank faced challenges in its business operations and the volatility of the global economy in the first half of the year, The bank's core business remains strong and operating expenses are likely to improve.
The bank's strategic partnership efforts have opened the door to joint ventures. and leverage the expertise of global business partners to drive expansion in new businesses In the past, the bank has been successful in developing new capabilities from the Transformation project. and are using these capabilities to generate revenue to drive future growth. The Bank will also use this capability to be more proactive in creating new business opportunities both from the growth of the Bank's own business and growth through acquisitions or investments in target businesses." About preecha binmanoch Templatesyard is a blogger resources site is a provider of high quality blogger template with premium looking layout and robust design. The main mission of templatesyard is to provide the best quality blogger templates which are professionally designed and perfectlly seo optimized to deliver best result for your blog. Newer Article The Comptroller General's Department Revealed That At The End Of The Third Quarter, Capital Expenditures Exceeded The Target By 12.54%. Older Article Kiatnakin Launches Digital Lending Using Facial Recognition Technology To Enhance Loan Application Efficiency. RELATED POSTView.
Although SCB Life's life insurance business slowed down, however, compared Industry Email List to the previous quarter, non-interest income increased 6.6% due to the recovery of main income from net fees (recurring fees), an increase in fee income from trading transactions and Foreign exchange and investment gains in this quarter saw the growth in expenses slow down from the previous quarter. There will be no impact of one-time expenses on the provision for employee benefits from the new labor law. In addition, the implementation of the project Transformation It is in its final stages and as a result, high investment costs in the project are coming to an end as well. As a result, the expense-to-income ratio has clearly improved from 51.6% in the first quarter of 2019 to 46.2% in the second quarter of 2019. At the end of June 2019, the non-performing loan (NPL) r resulting in the ratio of allowance for doubtful debts to non-performing loans at a level of 153. % while the bank's legal capital remains at a strong level at 17.1%, Mr. Athit Nanthawithaya, Chief Executive Officer and Chairman of the Executive Committee Siam Commercial Bank said, “Although the bank faced challenges in its business operations and the volatility of the global economy in the first half of the year, The bank's core business remains strong and operating expenses are likely to improve.
The bank's strategic partnership efforts have opened the door to joint ventures. and leverage the expertise of global business partners to drive expansion in new businesses In the past, the bank has been successful in developing new capabilities from the Transformation project. and are using these capabilities to generate revenue to drive future growth. The Bank will also use this capability to be more proactive in creating new business opportunities both from the growth of the Bank's own business and growth through acquisitions or investments in target businesses." About preecha binmanoch Templatesyard is a blogger resources site is a provider of high quality blogger template with premium looking layout and robust design. The main mission of templatesyard is to provide the best quality blogger templates which are professionally designed and perfectlly seo optimized to deliver best result for your blog. Newer Article The Comptroller General's Department Revealed That At The End Of The Third Quarter, Capital Expenditures Exceeded The Target By 12.54%. Older Article Kiatnakin Launches Digital Lending Using Facial Recognition Technology To Enhance Loan Application Efficiency. RELATED POSTView.